Spotify posted a record net profit for the quarter
- Spotify's revenue for the quarter up 19% to €3.99 billion
- This is below forecast due to a weaker advertising market
- Spotify's gross profit rose 40% to €1.24 billion
- Net profit for the quarter was a record €300m (x4)
- Operating profit was a record €454m (31.1% margin)
- Q4 2024 revenue could be €4.1 bln
- Operating profit for the new quarter will be already €481 mln
- Spotify Premium subscribers totaled 252 million (+12%)
- Total MAU for the service was 640 million (+11%)
- At the end of Q4 2024, the figure could be as high as 665 million
- The number of paid subscribers will be 260 mln (+8 mln)
- The company's operating expenses for Q3 2024 decreased by 8%
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Threads social network will start showing ads in early 2025
- Threads plans to launch advertising early next year
- The opportunity will be opened up to select brands first
- MAU at the end of October was already at 275 million
- 1 million people were said to be signing up every day
- Threads began to gradually catch up with its competitor X
- The MAU for X's mobile apps for Q3 2024 was 332 million
- In doing so, Threads wants to avoid advertising overload
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